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# LeMaitre CEO Says B. Braun Deal Will Bring 'Breakage': Maybe 10%, 15% Of Accounts Lost In Year One
- URL: https://www.bullished.co/lemaitre-ceo-says-b-braun-deal-will-bring-breakage-maybe-10-15-of-accounts-lost-in-year-40b618bc/
- Published: 2026-11-05T01:51:41.000Z
- Updated: 2026-11-05T01:51:41.000Z
- Description: The $19.2 million purchase of B. Braun vascular products comes with an 18-to-24-month handoff, and the CEO is betting a no-backorder promise wins customers back.
- Author: Matteo Parrino
- Tags: Earnings, LMAT, Industry: Healthcare

[LeMaitre Vascular](https://www.bullished.co/tag/lmat/) will lose some customers while it takes over vascular products bought from B. Braun, CEO George LeMaitre said on the company's third-quarter earnings call Wednesday. "Yes, there'll be breakage," he told analysts, guessing at "10%, 15% in year one" while stressing "we don't know."

## A slow handoff, a four-year supply deal

LeMaitre, which makes vascular medical devices and offers human tissue cryopreservation, bought polyester and silver-coated vascular grafts, valve cutters and vein strippers from B. Braun in October. Total consideration was $19.2 million, CFO Dorian LeBlanc said: $16.6 million up front and $2.6 million deferred to the one-year anniversary of closing. B. Braun's 2025 sales of the products were $9.4 million, all outside North America, [according to the company](https://seekingalpha.com/news/4665669-lemaitre-vascular-gaap-eps-of-065-misses-by-004-revenue-of-68m-beats-by-063m?ref=bullished.co).

The products were sold under contracts that bundle other B. Braun items, so LeBlanc said the commercial transition is expected to take 18 to 24 months. B. Braun will keep supplying customers directly until their agreements end or can be transferred, and LeMaitre gets a share of the profit. Under standard accounting, LeMaitre books no revenue until it fills orders itself, so it expects about $150,000 of fourth-quarter revenue and no net effect on operating income.

B. Braun will also keep manufacturing the products for four years while LeMaitre moves production to Burlington. LeBlanc warned of possible backorders in the meantime. He said the polyester grafts carry a gross margin of 40% to 50%, similar to LeMaitre's own.

## Betting on the no-backorder pledge

Asked by a Wells Fargo analyst about customer losses from the bundling, LeMaitre said the company has learned that customers usually come back after disruption. He said imposing its "crazy no back order mantra" should win them back. B. Braun sells directly in more countries than LeMaitre's 31, he added, which could make the problem surface quickly.

He described the products as relatively flat: sales for the 12 months through September 30 were about $9.5 million, against $9.4 million in 2025\. They were worth 0.1% of the sales of a $9 billion company, he said, in a segment B. Braun is moving away from. LeMaitre said the revenue spread across countries could make five to nine more markets worth selling into directly, Slovakia among them.

The products are not approved in the United States or Canada, and LeMaitre said it is not sure it would bring them there.

## No 2027 numbers, and a departing president

LeMaitre would not give 2027 figures for the deal. "We've never been through one of these slower transitions," he said, noting that purchases usually transition almost immediately. He said management is "a little bit uneducated" on this one and expects to have the business in-house by late year two or year three. The deal otherwise fits the company's approach of buying niche vascular and cardiac products and selling them through its own sales force, he said.

Dave Roberts, who spearheaded 26 acquisitions, will make 2026 his last year as president but stays on the board. LeMaitre said he will run business development himself for now while recruiting more senior executives.

Fourth-quarter results will show how the $150,000 of booked B. Braun revenue and any lost accounts are playing out.

Learn

- [How To Read An Earnings Call Transcript: Start With Guidance, Then Find What's Missing →](https://www.bullished.co/learn/how-to-read-an-earnings-call/)  
How to read an earnings call transcript: check guidance first, look for dropped metrics, compare growth with last quarter, and watch hedged wording.

### Sources

- [LeMaitre Vascular GAAP EPS of $0.65 misses by $0.04, revenue of $68M beats by $0.63M | Seeking Alpha](https://seekingalpha.com/news/4665669-lemaitre-vascular-gaap-eps-of-065-misses-by-004-revenue-of-68m-beats-by-063m?ref=bullished.co) — seekingalpha.com
- [LeMaitre Vascular (LMAT) Misses Q3 Earnings Estimates](https://finance.yahoo.com/healthcare/articles/lemaitre-vascular-lmat-misses-q3-234515112.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [LeMaitre: Q3 Earnings Snapshot](https://finance.yahoo.com/healthcare/articles/lemaitre-q3-earnings-snapshot-223938486.html?ref=bullished.co) — Associated Press
- [LeMaitre: Q3 Earnings Snapshot – WTOP News](https://wtop.com/national/2026/11/lemaitre-q3-earnings-snapshot/?ref=bullished.co) — wtop.com
- [LeMaitre: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/lemaitre-q3-earnings-snapshot/616-0c4c3199-58a6-42ee-b7e5-3176e2ac3185?ref=bullished.co) — Associated Press

### More on LeMaitre Vascular

- [LeMaitre Guides To 11% Sales Growth In 2026, Led By Grafts And Higher Selling Prices](https://www.bullished.co/lemaitre-guides-to-11-sales-growth-in-2026-led-by-grafts-and-higher-selling-prices-e5027fb0/)
- [LeMaitre Vascular President David Roberts Plans To Retire December 31 But Keep His Board Seat](https://www.bullished.co/lemaitre-vascular-president-david-roberts-plans-to-retire-december-31-but-keep-his-board-c2135897/)

[All LeMaitre Vascular (LMAT) coverage →](https://www.bullished.co/tag/lmat/)